When the time comes to part ways with your old car and purchase a new one or cash in on it and use the money for other purposes, you are usually faced with two choices: Either sell it or scrap it. While each of these options is an effective and legitimate way to make the most out of your old cars, they each have their own advantages and drawbacks. Understanding what each process entails can help you in decision-making.
AKR Towing is one of the companies that has been at the forefront of helping used car owners cash in on their investments by offering scrapping and towing services. This article gives a detailed look and comparison of the two methods and highlights how AKR scrapping can help.
Scrapping Your Car
As the name suggests scrapping is the process of taking a car that has reached its end of use and breaking it down to its individual parts i.e. scraps and then recycling the said parts. Before the scrapping process is reached there are several initial steps that you need to take.
First you need to prepare your car for the scrapping process. This will entail removing all the items in the car including valuables or personal information you may have forgotten under the seats, you can also remove valuable parts such as the GPS, entertainment system or stereo. Secondly, remove or use up any remaining fuel in the car. Lastly, cancel the insurance and registration of the car.
The next step after preparing your car is towing the car to the scrap yard for processing. Scrap yards may charge a small fee for this service. Here it is important to find a scrap yard with the best rates that will offer the best value for the parts based on their conditions.
Once you have agreed on the value of the parts and, consequently, the value of the car, you will receive payment for your used vehicle. It is important to note that most scrappers will need proof of legal ownership of the vehicle before completing the transaction.
Benefits of Scrapping a Car
There are several benefits to scrapping a car. Here are some of the advantages that you can realize by opting for scraping:
- Environmental benefits: With rising environmental concerns, it has become paramount for people to opt for sustainable options for waste disposal, and statistics show scrapping is one of best car disposal methods. While the waste disposal part may be left in the hands of the scrappers, reputable scrapping companies ensure that the recycling process follows strict regulations that ensure harmful materials do not damage the environment.
- Convenience: When your old car is hanging by its last threads, the easiest option may be to scrap it. Scrapping is a straightforward process that involves less hassle. In fact, some scrapping companies may offer to collect your vehicle for recycling, so all you need to do is dial a number on a phone, and you can quickly pocket your old car.
- Immediate Payment: Let’s face it when looking to sell your car, you want to get done with the process as quickly as possible unless, of course, you have some emotional attachment to the vehicle. Scrapping offers quick and easy guaranteed payment, albeit it may be a potentially lower sum than selling. At least you won’t have to haggle with potential buyers.
Factors to Consider Before Deciding to Scrap
While scraping may be a quick and effective method to dispose of your old car, there are several factors that you should consider before deciding to take this route.
- Cars age: If your car is older than 15 years, you may be better off scrapping it than reselling it; newer models can fetch a decent price on the resale market, while older models will often not be worth the struggle.
- Extensive damage: In some cases, your car may incur extensive damage such that repairing it will be too costly. In such cases, scrapping may be the most preferable option.
- High Mileage: Vehicles with high mileage will fetch lower prices in the resale market; scrapping them may be easier, less time-consuming, and more cost-effective.
Selling Your Car
When your car is in good condition and has a low mileage, reselling it is one of the most lucrative options. There are different ways that you can go about it. First, you may decide to trade in the vehicle where you exchange your old vehicle for a newer one. In this case, you will have to top out some amount in addition to the value of your car. Secondly, you may opt for a private sale. Here, you have to list your vehicle for sale and personally complete the transaction with a willing buyer. Alternatively, you may choose to sell your car to a dealership, which will assess the value of the asset and provide you with an offer.
Benefits of Selling a Car
- Financial gain: One of the key benefits of selling your car is the potential for higher gains, especially if your vehicle is in good condition. Popular car models or vehicles with desirable features will have a higher financial return in the used car market compared to scrapping.
- Preserving used car parts: While recycling is a sustainable way to dispose of items that you are not using, reusing is an even better way since your car gets to serve another owner.
Factors to Consider When Selling
Just like scrapping there are several factors that you need to consider before selling your car. First you need to consider the time commitment of the process. Private selling and trade ins will often require time before you agree on a deal with the other party. Secondly, it is important to consider the demand. Higher demand for a particular model means it will be easy to sell compared to a model with low demand.
Comparison: Scrapping vs. Selling Your Car
- Financial Return: Selling your car generally fetches a higher return than scrapping it. This is due to the fact that the car usually has low mileage and is in good condition, which are key takeaways in getting a lucrative deal in the used cars market. Scrapping is ideal when you’re looking for some quick cash for your old car or when your car is completely totaled.
- Convenience: Scrapping is more convenient than selling a car mainly because the process simply involves locating a nearby scrap yard to sell your car parts, with several companies even offering towing services just to ease your headache. Selling your car, on the other hand, normally takes time since you want a potential buyer who is willing to meet the set price.
- Environmental Impact: Scrapping provides a safe method of recycling car parts, especially if your car is beyond repair. It’s a means of waste disposal that limits damage to the environment. Selling your car also has a positive impact on the environment in that the car will serve another owner rather than rot away while neglected.
Making the Right Choice: What’s Best for Your Old Car?
Scrapping and selling are both ideal options for doing away with your used car. Scrapping is a straightforward process that gives you quick cash from the sale of car parts, and it’s the best option when your car is very old, damaged beyond repair, or has very high mileage. On the other hand, selling your car entails finding a willing buyer who will meet the estimated best value of your moderately used car. This option is excellent for when you want a relatively higher return for your used car. However, the car needs to be in good condition and with low mileage to attract interest from buyers, with popular car models and cars with desirable features having the upper hand.
The best option boils down to individual preferences and circumstances, which mainly revolve around environmental concerns, financial gain, or convenience of the process. Whichever option you pick, ensure it aligns with your goals or demands to avoid any regrets in the future. If you need assistance with your car disposal or want to learn more about scrapping options, trust AKR Towing, who will bring you up to speed and provide you with additional services, such as cash for your car, to complete the process quickly and effectively.
